Burtech Acquisition Corp. Stock Forecast
Stronger technical forecast for Burtech Acquisition Corp. stock price after Friday trading.
(Updated on Jun 28, 2024)
The Burtech Acquisition Corp. stock price gained 0.0400% on the last trading day (Friday, 28th Jun 2024), rising from $0.250 to $0.250. During the last trading day the stock fluctuated 0.0400% from a day low at $0.250 to a day high of $0.250. The price has fallen in 5 of the last 10 days and is down by -7.37% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 thousand more shares were traded than the day before. In total, 3 thousand shares were bought and sold for approximately $828.58 .
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.250 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 37.43% during the next 3 months and, with a 90% probability hold a price between $0.343 and $0.460 at the end of this 3-month period.
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BRKHW Signals & Forecast
Burtech Acquisition Corp. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Burtech Acquisition Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.254 and $0.267. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -13.46%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Burtech Acquisition Corp. stock
Burtech Acquisition Corp. finds support from accumulated volume at $0.250 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0001 between high and low, or 0.0400%. For the last week, the stock has had daily average volatility of 3.61%.
Our recommended stop-loss: $0.235 (-6.10%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 53 days ago.)
Trading Expectations (BRKHW) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Burtech Acquisition Corp. to open at $0.250, and during the day (based on 14 day Average True Range), to move between $0.235 and $0.265, which gives a possible trading interval of +/-$0.0153 (+/-6.13%) up or down from last closing price. If Burtech Acquisition Corp. takes out the full calculated possible swing range there will be an estimated 12.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.250 (0.04%) than the resistance at $0.260 (3.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Burtech Acquisition Corp. stock A Buy?
Burtech Acquisition Corp. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Burtech Acquisition Corp. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.250 ( 0.0133%) | $0.250 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRKHW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.250 | 0.0267% |
| R2 | 0.250 | 0.0114% |
| R1 | 0.250 | 0.0019% |
| Price | 0.250 | |
| S1 | 0.250 | -0.0286% |
| S2 | 0.250 | -0.0380% |
| S3 | 0.250 | -0.0533% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.271 | 8.20% |
| R2 | 0.270 | 7.92% |
| R1 | 0.260 | 3.96% |
| Price | 0.250 | |
| S1 | 0.250 | -0.0400% |
| S2 | 0.250 | -0.0800% |
| S3 | 0.220 | -12.08% |
FAQ
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